Zee Beam News

05-11-2005 - MosNews - By 2020 China plans to increase the sum of its capital investments in Russian economy to $12 billion. The news was reported by a Kremlin source, quoted by RIA Novosti, on Monday, May 9, following a meeting of Russia's President Vladimir Putin and China's President Hu Jintao.
According to the agency's source, trade and economic cooperation between the two countries is developing successfully. The source noted that in 2004, trade turnover between Russia and China was the highest in the history of bilateral relations. According to the data provided by Russian statistics, the volume of trade turnover amounted to almost $15 billion, while Chinese statistics show a figure of $21.2 billion.
Based on the results of last year, Russia became China's ninth largest trade partner. The source also recalled that the Russian and Chinese governments have agreed to increase the volume of bilateral trade to $60 billion by 2010.